Harbour Capital Advisors LLC acquired a new stake in Medtronic PLC (NYSE:MDT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,906 shares of the medical technology company’s stock, valued at approximately $154,000.
Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Medtronic PLC by 4.5% during the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after acquiring an additional 4,412,536 shares during the period. BlackRock Inc. boosted its holdings in shares of Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after acquiring an additional 83,705,052 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Medtronic PLC by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock valued at $4,724,526,000 after acquiring an additional 1,729,715 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after acquiring an additional 12,500,992 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Medtronic PLC by 7.3% in the first quarter. Geode Capital Management LLC now owns 13,308,812 shares of the medical technology company’s stock valued at $1,070,622,000 after acquiring an additional 906,581 shares in the last quarter. Institutional investors and hedge funds own 80.75% of the company’s stock.
In other news, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was acquired at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the purchase, the director now directly owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on MDT shares. William Blair restated an “outperform” rating on shares of Medtronic PLC in a report on Thursday, July 6th. BidaskClub upgraded shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Wells Fargo & Company restated an “outperform” rating on shares of Medtronic PLC in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Medtronic PLC in a report on Tuesday, July 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $95.00 target price (up from $91.00) on shares of Medtronic PLC in a research note on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $88.78.
Medtronic PLC (NYSE:MDT) traded up 0.11% on Friday, hitting $81.89. 3,443,968 shares of the stock were exchanged. The company has a 50-day moving average price of $82.25 and a 200-day moving average price of $83.64. The firm has a market cap of $110.93 billion, a PE ratio of 27.56 and a beta of 1.03. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Medtronic PLC’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Medtronic PLC will post $4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.
Medtronic PLC Profile
Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.
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